"When I see a danger signal, I don't argue with it, I avoid it! After a few days, if everything looks good, I'll come back. This way, I'll save a lot of trouble and a lot of money." — Jesse Livermore

Market Review

Yesterday, the master pointed out in the article that Bitcoin may rebound in the short term, but we need to be cautious of the pullback pressure after the KDJ overbought. Currently, the price is consolidating near the middle track of the Bollinger Bands, and we need to pay attention to whether it can effectively break through the upper and lower tracks to determine the future trend. In the weekend market, Bitcoin and Ethereum remained quiet, and we will discuss two popular small coins, PEPE and WIF, on Monday morning.

PEPE 4-hour Chart

By observing the 4-hour chart of PEPE, we can see that both the MACD and KDJ indicators are issuing warning signals, indicating a possible weak market condition.

First, the MACD line crossed near the 0 axis and is running downward, indicating a market turning weak. The red histogram is getting shorter and gradually turning green, indicating a weakening selling pressure. The cross of the DIF line and DEA line is usually considered an important signal, indicating that the market may be losing momentum.

Second, all three lines of the KDJ indicator are below 50, which usually indicates a weak market and a possible continued decline in the short term. However, we notice a trend of the K line and D line rebounding from the bottom, which is a positive sign indicating that the market may gradually emerge from the downturn.

Additionally, the Bollinger Bands indicator is currently in a converging state, with the price oscillating near the middle track of the bands. If the price can break through and continue to run above the middle track, this usually indicates further upward momentum. However, if the price falls below the middle track and approaches the lower track, this may indicate a continued downward market.

Comprehensive analysis: In the short term, PEPE may still face the risk of adjustment or decline. But if the MACD histogram shows a trend of turning green, and there is an upward cross signal in the KDJ indicator, and the price breaks through the BOLL middle track, it may indicate the arrival of a rebound. Close attention should be paid to the changes in the indicators in the next few hours to confirm clear reversal signals and the position of the price in the Bollinger Bands. If clear bullish signals appear, consider entering the market when breaking through the middle track.

WIF 4-hour Chart

From the 4-hour chart of WIF, we can see that the market is in a relatively weak state. The DIF line and DEA line are running above and below the 0 axis, showing that the market's momentum and trend are gradually changing. The two lines are gradually diverging, showing a death cross signal, indicating that the short-term downside space in the market may further expand. The histogram shows that the selling pressure is strengthening, further confirming the market's weak trend.

At the same time, all three lines of the KDJ indicator are below 50, and the J line value is significantly lower than the K line and D line values, indicating that the market's overbought and oversold conditions are not severe, and the market is in a relatively weak state with a potential for a certain amount of downside space in the short term.

Furthermore, from the Bollinger Bands indicator, the price is currently oscillating between the middle track and the lower track, with significant volatility. If the price cannot effectively break through the middle track (3.3782), the market may continue to approach the lower track (3.1643). This indicates that the market may be in a relatively low position with a possibility of a rebound. However, if the price can stand firm on the middle track and break through it, the market may enter an upward trend.

Comprehensive analysis: Currently, the MACD, KDJ, and BOLL indicators show that WIF may still be in an adjustment or downward phase in the short term. But the KDJ is approaching oversold territory, and if there is a clear reversal signal and the price breaks through the Bollinger Bands middle track, it may indicate a rebound opportunity. Please pay close attention to the changes in the indicators in the next few hours, especially the clarity of the KDJ reversal signal and the position of the price in the Bollinger Bands. If clear bullish signals appear, consider entering the market when breaking through the middle track; if the market continues to oscillate near the lower track of the Bollinger Bands or falls below it, caution should be maintained.

In summary, the master provides the following suggestions for reference:

PEPE long near 0.000014575, target 0.000015108, stop loss 0.000014379

WIF long near 3.1880, target 3.3227, stop loss 3.1849.

Instead of giving you a 100% accurate suggestion, it's better to give you the correct mindset and trend, after all, teaching someone to fish is better than giving them a fish. The focus is on the mindset, grasping the trend, and planning for the market and position. What I can do is to use my practical experience to help everyone make investment decisions and manage operations in the right direction.

Drafting time: (2024-06-02, 14:40)

(Author - Master Coin Talk) Special statement: The publication on the internet has a delay, and the above suggestions are for reference only. The author is committed to research and analysis in the investment fields of Bitcoin, Ethereum, altcoins, foreign exchange, stocks, etc., and has been involved in the financial market for many years, with rich experience in actual trading. Investment involves risks, so caution is needed when entering the market. For more real-time market analysis, please follow the official account Master Coin Talk for discussion and exchange.

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